In a statement to stock exchanges, Wipro said that it has picked up a minority stake “of less than 20% on a fully diluted basis” in Intsights.

Tel Aviv, Israel-based Intsights was founded in 2015 by Israeli entrepreneur Guy Nizan and offers a software platform to clients that is capable of detecting cyber-attack threats early. In October 2015, Intsights raised $1.8 million from Israeli venture capital firm Glilot Capital Partners which typically invests in software startups.

Israel has acquired a new-found importance for India’s largest software firms, which are currently struggling to grow their traditional core outsourcing businesses and are hoping that some of their bets on new-age ventures and startups building disruptive ideas will pay off big-time in the near future.

“We see a lot of diversity in the startup ecosystem in Israel. In terms of domain, they solve pretty complex enterprise problems,” said Biplab Adhya, who jointly spearheads the $100-million Wipro Ventures with Venu Pemmaraju, in an exclusive interview with ET earlier this year.

Earlier in August, Wipro’s cross-town arch-rival Infosys also invested $4 million in Israeli cloud computing startup Cloudyn from the company’s $500-million Innovation Fund, which has so far bet on startups in the Silicon Valley, Israel and India.

According to the Startup Genome, which ranks startup ecosystems across the world, Tel Aviv was ranked as the fifth best startup ecosystem in the world in 2015, coming in behind only the Silicon Valley, New York City, Los Angeles and Boston.